Tuesday, 21 July 2026 · No. 110
Hormuz tanker attacks extend into tenth night as oil holds above 82 dollars.
The Lead
Bitcoin trades near 65,600 dollars after the overnight move, with exchange balances still contracting on net outflows and the MVRV ratio at 1.23 keeping most holders only modestly in profit. That combination supports quiet accumulation amid extreme fear readings, yet the same low conviction leaves price exposed if macro conditions tighten further.[1] US strikes on Iranian targets near Hormuz have now run ten consecutive nights, driving Brent above 82 dollars with repeated tanker incidents restricting the strait that handles one-fifth of global oil supply. Higher energy costs add to inflation pressure while a firmer dollar and steeper yield curve coexist with firmer gold, a mix that historically compresses risk assets rather than lifting them. The open question is whether sustained outflows can absorb any fresh supply if oil keeps climbing and liquidity tightens at the same time.
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The Reading
Threat
QUIET
Conviction
66/100
17 sources cited
At Publication
Now and change since Tue 21 Jul
- BTC Price
- $65,676
- 24h Change
- 2.48%
- Fear & Greed
- 25
- Hashrate
- 918.9 EH/s
- MVRV
- 1.23
- Block Height
- 958,974
- S&P 500
- 7,443.28
- VIX
- 18.65
- Gold
- $4050
- DXY
- 100.78
- US 10Y
- 4.60%
- Oil
- $82.15
In This Briefing
The Wire
BITCOIN
Bitcoin Miner Hut 8 Shares Jump on $9.8 Billion AI Data Center Deal — BTC Magazine
BITCOIN
Bitcoin defies recent tech stocks sell-off. Are bulls eyeing $70K rally? — Cointelegraph
CONFLICT
Iran War update: Five things to know after the resumption of hostilities — CNBC
CONFLICT
US military releases footage of tenth consecutive night of strikes on Iran — Al Jazeera
ECONOMY
Stock futures climb as traders shift focus to earnings amid Middle East tensions: Live updates — CNBC
POLITICAL
Donald Trump to impose 50% tariff on most Canadian goods, White House says — Guardian
Sources (17)
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